AML SAR Filing / BSA Reporting

AML SAR Filing / BSA Reporting

10 - 50 downloads

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Anti-Money Laundering, Suspicious Activity Reporting, Bank Secrecy Act Workflow APP

AML SAR Filing / BSA Reporting App (ASBA) is a critical risk management and AML compliance tool for businesses at risk of being victimized by money laundering. Detecting and reporting potential money laundering incident are critical business requirements for firms engaged in financial transactions. All financial services firms are required to administer an AML compliance program. Failure to do so could result in fines imposed by regulatory agencies. Failure to detect money laundering transactions poses significant reputational risk that can lead to significant monetary fines, business closure and imprisonment.

The AML SAR Filing / BSA Reporting App offers a rules based compliance tool addressing government reporting guidelines, filing procedures and requisite FinCEN links to assure expeditious filing with enforcement agencies.

Full filing instructions and links to FinCEN SAR Reporting, CTR, CMIR, FBAR and Certification for Correspondent Bank Reporting and other valuable AML compliance resources are explained and integrated into this work flow app to mitigate the threat of money laundering incidents.

Program Functions

Intro to SAR Filing and BSA Reporting
Instructions on FinCEN Registration
FinCEN Registration Link
FinCEN Forms Library
High Risk Accounts
SAR Scorecard
SAR Investigation Report

Instructions and links to file:
All SAR Reporting Types
Including MSB, Credit Unions, Security Brokers, Casinos, Jewelers
Currency Transaction Reports (CTR)
Foreign Bank and Financial Accounts (FBAR)
Certification for Correspondent Banks
Currency and Monetary Instrument transactions (CMIR)
Travel Rule Compliance
OFAC Search / Emergency Notification

ASBA Users:
Credit Unions
Money Service Business
Jewelers
Casinos
Car Dealerships
Banks
Alternative Lenders
Hedge Funds
Broker Dealers
RIA's
CTA/CPO
Correspondent Banks
Fund Administrators

Sum2 also offers a full complement of AML compliance products to address regulatory compliance requirements.

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